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This week’s featured collection: Illestrater

There is something deeply satisfying about browsing an extremely large collection of NFTs. That is why this week’s featured collector is Illestrater, whose Ethereum NFT collection is extensive and includes many big name projects along with new ones worth discovering. Have fun looking through their collection at lazy.com/illestrater

Learning to “Delegate” could be the most important new skill for NFT collectors in 2023. Here’s how delegation can keep your NFTs safe.

A few of weeks ago, an extremely sophisticated scammer stole over a million dollars worth of NFTs from a Bored Apes collector. Although hacks are common, this particular scam attracted a lot of attention due to its complexity.

In brief, the scammer contacted the victim and claimed they wanted to license their Bored Ape for an upcoming film. When the collector went to sign the paperwork, they were asked to login to a web3 site. The site requested their signature and their Apes were instantly stolen.

Many people assume that signing a transaction is harmless, after all it is how we sometimes login to web3 sites. However, these scammers exploited a feature of OpenSea’s marketplace that allows the creation of private auctions using signatures. In other words, if you sign the wrong transaction it can be used to steal your NFTs. Scary!

For a full analysis of the scam, check out this thread.

One of the best ways to protect against getting scammed is to delegate your NFTs.

There are a few different delegation systems. The most well known is delegate.cash. Others, such as the one announced by Punk6529, will be released soon.

The way they work is simple:

1. You, the collector, store your NFTs in a cold wallet

2. You use a delegation system to link your cold wallet to a hot wallet

3. When a site wants to check if you own a specific NFT, it queries your hot wallet address instead of your cold wallet.

In other words, websites and smart contracts interact with your hot wallet (which does not contain any NFTs) instead of your cold wallet. And because your hot wallet is empty, nothing can be stolen.

It is an elegant solution. However, it does require NFT projects to upgrade their smart contracts and/or websites to support delegation. The best way to encourage that process is for collectors to make delegation a core part of their strategy for staying safe in 2023.

Thanks for reading! We wish you a wonderful end to 2022!

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This week’s featured collection: LongZai

Some collections show off the potential of NFTs and that is why we were delighted to discover LongZai. What makes their collection different is that it contains NFTs that prove they have completed web3 programing courses. For example, LongZai has a certificate for a course on “Advanced Solidity Syntax.” Very cool and we expect this will be more common in the future. Check it out at lazy.com/longzai

It’s been a wild ride for NFT and crypto enthusiasts in 2022. From the continued mainstreaming of NFTs—who could have predicted Trump would launch an NFT collection!?—to the collapse of FTX, it’s been a year of innovation and setbacks. As 2022 comes to a close, it’s a great time to look ahead to what the future might hold.

Here are three predictions we’re thinking about:

1. “NFTs stand on the cusp of the greatest adoption curve in history.” — RedPhone.eth

The crypto storyteller RedPhone.eth has released their annual “69 Theses” — a fascinating philosophical analysis of where crypto is headed in the year ahead. One of their strong claims is that NFTs are about to see massive adoption by the largest Web2 players. They write:

“Facebook, Instagram and Reddit have entered the chat. Now, NFTs stand on the cusp of the greatest adoption curve in history. All the Web2 participants will likely enter in 2023 (Amazon, Google, Apple, etc.) and NFTs will go parabolic… perhaps not in price but in minting and trading and exposure to new crypto participants.”

Read the full 69 Theses.

2. “For a long time, I have been bullish on blockchain identity but bearish on blockchain identity platforms.” — Vitalik Buterin

Earlier this month, Vitalik Buterin, the founder of Ethereum, released a detailed blog post entitled “What in the Ethereum application ecosystem excites me.” It is well worth reading for an insight into what the ultimate Ethereum insider sees as the most promising directions for crypto in 2023. Most interestingly, although Vitalik never uses the term “NFT,” he does devote significant attention to POAPs, or proof of attendance protocol, a technology that is built using NFTs. He writes:

“For a long time, I have been bullish on blockchain identity but bearish on blockchain identity platforms. […]An Ethereum-based Twitter alternative (eg. Farcaster) could use POAPs and other proofs of on-chain activity to create a “verification” feature that does not require conventional KYC, allowing anons to participate. Such platforms could create rooms that are gated to members of a particular community – or hybrid approaches where only community members can speak but anyone can listen. The equivalent of Twitter polls could be limited to particular communities.Equally importantly, there are much more pedestrian applications that are relevant to simply helping people make a living: verification through attestations can make it easier for people to prove that they are trustworthy to get rent, employment or loans.”

Read Vitalik’s full blog.

3. “There’s the signal and the noise. In crypto, 99% of it was noise. But there’s real value and signal there. […] Now crypto will get its act together.” — Mark Cuban

One of the most vocal proponents of crypto’s technological potential has been Mark Cuban, the founder of Lazy.com. In a recent interview on Jon Stewart’s podcast, Mark explained that crypto’s future is bright and the collapse of FTX, 3AC and Luna could be the catalyst for crypto to get its act together.

Listen to the full interview on The Problem with Jon Stewart.

What are your predictions for NFTs in 2023? Send us your thoughts and we might feature them in a future newsletter.

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This week’s featured collection: Ideka_Art_Studio

Ideka_Art_Studio is the collection of Inge De Knop, aka Ideka, an artist from Diksmuide, Belgium. Ideka makes abstract pieces using “flow art” or acrylic pouring in a surrealistic style. The results are stunning! Check it out at lazy.com/ideka_art_studio

The use cases for NFTs continue to expand as cities and institutions embrace their potential for funding cultural preservation.

We love NFTs because they are so full of potential. Digital art and collectibles are cool. But there is so much more that NFTs are capable of. Lately we’ve been exploring a new use case for NFTs: cultural preservation & restoration.

NFTs are already useful as a way to track and verify the ownership and provenance of cultural artifacts, such as works of art, historical documents, or other items of cultural significance. Monuverse, a project based in Italy that is working in partnership with the Office of Cultural Heritage for the City of Milan, takes this a step further. They are using NFTs to fund the preservation of The Arch of Peace, one of Milan’s most iconic monuments.

Elsewhere, NFTs are being used to help prevent the theft or destruction of historical or culturally significant items, and can also provide a way for people to securely and verifiably donate or contribute to the restoration of these items.

For example, in October of this year, The Kharkiv Art Museum in Ukraine launched “Art Without Borders,” a new NFT collection on the Binance NFT marketplace to raise funds for the preservation of cultural heritage. Fifteen artworks from Kharkiv Art Museum’s holdings were digitized and sold as NFTs.

Perhaps most interesting of all is the example of Tuvalu, an island nation under threat from rising sea levels. Recently Tuvalu declared itself “the first digital nation.” Tuvalu’s foreign minister told the COP27 climate summit that the nation plans to build a digital version of itself in the metaverse in order to preserve its history as it faces erasure due to climate change.

The role of NFTs continues to expand as the technology matures. Tracking the ownership of unique artworks and funding the preservation of cultural landmarks is just a tiny glimpse of the important role NFTs will play in the years ahead.

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This week’s featured collection is PapaAfrica

PapaAfrica is “hustling in the metaverse.” Their collection of Ethereum NFTs ranges from Runner to Friendship Bracelets and Valhalla. Lots of great art! Browse their collection at lazy.com/papaafrica

There is a saying in crypto: “The bear market is for builders.” And we are seeing this now in the NFT ecosystem as big technological changes are underway that will decide the future of royalties with the potential to permanently schism the NFT community.

Here’s a brief summary of events to get you up to speed: As we discussed in Newsletter #70, in recent months there have arisen NFT marketplaces that do not pay royalties to creators. This has led to anger from artists who are losing out on income.

Now, in an unexpected turn of events, OpenSea has announced plans to cajole NFT creators to blacklist marketplaces that don’t pay royalties.

In a series of tweets yesterday, OpenSea declared that “the revolutionary potential of creator fees has been under attack for months” and therefore, “It’s an existential imperative for the space to preserve creator fees.”

In other words: the fully decentralized ethos of crypto is breaking down as the largest NFT marketplace begins to enforce its vision on the community. The result may be two disconnected NFTs ecosystems: one that respects royalties, the other that is wild and free.

The reaction to OpenSea’s moves have been strong:

For their part, OpenSea has responded to critics by adjusting their plans slightly. It is too early to know exactly how their implementation will change.

Right or wrong, OpenSea’s moves will have a big impact on the future of NFTs and what the NFT ecosystem looks like during the next bull cycle. We’ll be following these developments closely.

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This week’s featured collection is Kalskie

Kalskie is an entrepreneur, trader and creative. They collect Ethereum NFTs such as Crookz, White Rabbit Zero and Chains. Browse their collection at lazy.com/kalskie

How to securely store your NFTs.

If you have some NFTs that you don’t plan on selling or trading anytime soon, it might be a good idea to put them into secure storage. That way you don’t have to worry about accidentally losing them: peace of mind is priceless.

Here are three ways to create your own impenetrable storage system:

Option #1: Cold Wallet

A cold wallet is a wallet that is not connected to the internet. There are many different ways to create a cold wallet, but the easiest is to download a new web browser (such as Firefox) onto your computer and install a fresh copy of MetaMask. Use the fresh copy of MetaMask to generate a new seed phrase. Important: Print out the seed phrase and store it in a safe place. Now send your NFTs to the new MetaMask’s address. Connect your new address to your Lazy account to confirm that they have arrived and then uninstall the new MetaMask and delete the web browser that you downloaded. You’ve now created a cold storage wallet. If you want to access your NFTs, you’ll need to re-install MetaMask and import your seed phrase. If you lose your seed phrase then your NFTs are gone forever! Also, this only works if your computer is virus-free before installing the new web browser.

Option #2: Hardware Wallet

A hardware wallet is a device that stores your seed phrase and requires you to physically confirm with a button press every blockchain transaction before it is approved. Three of the most popular hardware wallets are: Trezor, Ledger and Grid+ Lattice1. Be sure to get a hardware wallet that supports the blockchains you use. Hardware wallets are not cheap—and they won’t prevent you from approving malicious transactions—but they are still one of the best ways to secure your crypto assets. To put your NFTs into storage using a hardware wallet, you would simply transfer them to the address generated by your hardware wallet and then put the device in a secure location.

Option #3: Multisig Wallet

A third option worth considering is a multi-signature (“multisig”) wallet. This is a special kind of cryptowallet that requires two or more wallets to approve every transaction. Normally used by distributed teams, multisig wallets can also be used by individuals to create a secure storage system. For example, you could create a multisig wallet that requires you to approve transactions using wallets on two different computers. That makes it much more difficult for a hacker to steal your assets and it also gives you an opportunity to carefully consider whether you want to approve a transaction. The most popular multisig wallet for Ethereum is Gnosis Safe.

Once you’ve transferred your NFTs to a secure wallet, connect the wallet to Lazy.com so the NFTs are still visible on your profile. What are your most prized NFTs? Send us an email and tell us why you’re storing them long term.

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This week’s featured collection is Arcaraai

“My best friend says I do cubistic cartoons,” writes Arcaraai. “I disagree and want to get additional feedback. I established a rather coherent style, however, my work is categorized as ‘abstract’ which isn’t exactly the hip thing these days… Yes, I use AI to some extent. But you wouldn’t notice.”

Take a look at Arcaraai’s unique artworks at lazy.com/arcaraai and let us know what you think!

A man rides a roller coaster and maintains a straight-face despite the terrifying turns, loops and curves… the caption reads “Crypto OGs right now.”

No wonder this tweet has garnered hundreds of likes: there is a lot of truth in the meme. For those of us who have been following cryptocurrencies for many years, recent events—from the crash of 3AC to FTX—and the ongoing fears of wider contagion are reminiscent of the many terrifying collapses the crypto ecosystem has overcome in the past.

Remember Mt. Gox? Pirate40’s ponzi? The ICO craze? BitConnect? The list goes on. Yes, this time is different. However, as Mark Twain famously wrote, “History never repeats itself, but it does often rhyme.”

So what gives “crypto OGs” their ability to maintain a straight-face during this cycle’s rollercoaster?

For many, it is an understanding that the technologies underlying crypto, such as blockchains and smart contracts, are here to stay and that their full potential is still becoming clear. From this perspective, crypto today is akin to the early days of the internet. Imagine giving up on the internet because of the dot.com crash in the late 1990s.

Being straight-faced during recent events doesn’t mean being oblivious to the real risks that these downturns entail. Nor does it mean ignoring the damage that is being done to people’s livelihoods with each collapse. Instead, it means realizing that although the crash may continue, or worsen, eventually it will end and when it does a new chapter for crypto will be written.

The collapse of Mt. Gox proceeded Ethereum’s smart contracts. The ICO crash came before Uniswap and DeFi. The demise of FTX happened before the invention of… ? Let’s stick around and find out.

Regardless of whether you are a crypto OG or a newcomer, we hope you doing alright in these difficult times. What strategies have you discovered for maintaining equanimity? Send us an email with your ideas.

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This week’s featured collection is Kelvinism

Kelvinism is an eclectic collector of Ethereum NFTs. They have some abstract art pieces and a few profile pic NFTs. Overall, an interesting mix of genres and styles. Check it out at lazy.com/kelvinism

Think your collection deserves to be featured in a future newsletter? ✨

Fill out this form with your profile link and why you think your profile should live under the spotlight. Points for creativity!

Pro tip: You can easily list your Ethereum, WAX and Tezos NFTs for sale with a couple clicks from your Lazy profile

Everyone knows Lazy makes it super simple to display your NFTs. Just connect your Ethereum, Polygon, Solana, WAX and/or Tezos wallets and your NFTs will automatically appear. But did you know it is also extremely easy to list NFTs for sale?

Lazy supports buying and selling NFTs on Ethereum, WAX and Tezos. To list an NFT for sale, simply click the three dots on an NFT and select “Sell.”

Once you approve the transaction your Ethereum NFTs will be listed on OpenSea, WAX NFTs will be listed on AtomicHub and Tezos NFTs will be on Rarible. They will also be available for purchase directly from your Lazy profile.

We’re adding new features to Lazy all the time. Is there one killer feature you wish we would add next? Send us a note at info@lazy.com and tell us about it!

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This week’s featured collection is Scriptron2022

Scriptron2022 has been “illustrating and painting since way before computers.” They feature a few of their creative futuristic shoe designs on their Lazy profile. We’ve seen anything like it! Browse Scriptron2022’s art at lazy.com/scriptron2022

It was a heartbreaking week for the crypto community… let’s soften the blow by taking care of each other!

There is no doubt that this week will be remembered as one of the most difficult in the history of cryptocurrencies. FTX, a major exchange, has collapsed practically overnight, wiping out over a million users with as yet unknown ramifications for the broader ecosystem. Already the contagion has spread to BlockFi, which has suspended withdrawals, and rumors are swirling that many NFT projects have lost their treasuries. Regardless of what is to come, one thing above all is most important: we must take care of each other.

In the coming days, savvy analysts will write the commentaries to help us all understand what went wrong and what red flags were missed. For our part, we would just like to say that now is the time for the crypto community to show itself compassion. Reach out to your NFT collecting buddies, check in and make sure they are keeping their head up.

Remember, this too shall pass.

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This week’s featured collection is Symulakra

Symulakra is an artist that uses Dall-E 2 to create “AI fantasy portraits and worlds.” The portraits are impressive in the way they capture an intense emotional landscape. Browse Symulakra’s art at lazy.com/symulakra

Think your collection deserves to be featured in a future newsletter? ✨

Fill out this form with your profile link and why you think your profile should live under the spotlight. Points for creativity!

Exploring a physical art gallery for NFTs in London

Forever curious about how the NFT ecosystem continues to grow, last week we went on a field trip to The NFT Gallery, a physical art gallery in London, UK. Here’s what we found:

The NFT Gallery aims to bridge the divide between traditional art & digital NFTs. They hold exhibitions, help well-known artists to digitize their art collections as NFTs, and assist traditional art buyers in collecting NFTs (from setting up wallets, to sourcing pieces).

Walking in, it feels like your typical art gallery and that’s been a big part of their vision. The three founders, who all grew up around traditional art collectors, noticed that NFTs weren’t reaching the typical art audience.  They found that the barrier wasn’t lack of interest, but moreso that artists & art collectors couldn’t ‘see’ or visualise how NFTs work. The existence of a physical gallery lets people drop-in to learn and get comfortable with blockchain technology.

In fact, their current exhibition of William John Kennedy’s behind-the-scenes photography of Andy Warhol resulted from a walk-in encounter. William John Kennedy had the images of Andy Warhol in storage and was intrigued about what could be done with them as NFTs.  

If all goes well, The NFT Gallery plans to open an outpost in New York in January. You can follow their progress at the-nft-gallery.io

Have you ever encountered an NFT in a physical space? How was the experience different from an online interaction? Send us a note at info@lazy.com and tell us about what you learned.

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Introducing: Friday Beers

Created in late 2019 by brothers Jack, Max, and Sam Barrett, Friday Beers began as a collection of Instagram accounts that gained popularity as a relatable voice in weekend culture, sports, music, and character-driven comedy. Today their growing network comprises over 7+ million followers and delivers hundreds of millions of monthly impressions across a family of brands.

Friday Beers is now expanding onto the Ethereum blockchain with a collection of 5,555 NFTs designed by comedy central animator, Mike Manor. Each NFT is loaded with utility including: discounts & exclusive perks across 15+ established brand partners; VIP access pass to IRL Friday Beers Events and exclusive holder events; Weekly raffles, partner giveaways and more…

The Friday Beers mint sold out on October 26 and the artwork reveal is happening soon. Learn more about Friday Beers at their website or on Twitter.

Check out Friday Beer’s Lazy.com collection at lazy.com/fridaybeersnft

* This is a Sponsored Post. Get in touch if you’d like us to feature your NFT project.

Reader Questions 📬

Q: I store my NFTs in two different Ethereum wallets. Is there a way to add both wallets to my Lazy profile?

A: Yes! You can easily add multiple wallets to your Lazy profile. Simply go to the My Wallets page at lazy.com/wallets and click Add Wallet. Choose Ethereum and follow the prompts to add your next wallet.

Q: Is it safe to connect my wallets to Lazy?

A: Absolutely safe! To see why, it is important to understand the three different components that work together whenever you access a blockchain application.

First, there is your wallet provider, such as MetaMask, Rainbow or Coinbase. The wallet provider stores your private key and keeps a record of your various public wallet addresses.

Second, there is the website you are interacting with. These websites can ask your wallet provider to do three things: a) tell it your public address b) sign a transaction or c) submit a transaction.

Third, there is the blockchain where transactions are received and recorded. If you allow your wallet provider to sign or submit a transaction, it will ultimately end up being recorded on the blockchain.

If you simply “connect” your wallet to Lazy.com then all you’ve done is let us know your public address. Therefore, it is perfectly safe!

Lazy will only ask you to sign or approve a transaction if you attempt to buy or sell an NFT.

TLDR: Simply connecting a wallet to Lazy to display your NFTs is 100% safe.

👉🏼 Hey! Are you a web3 dev that wants to make an impact on the NFT scene? 👀

Here’s your chance: Lazy.com is seeking a web3 front-end developer with React experience. Tens of thousands of collectors use Lazy.com to display their NFTs. Help us shape what they see. Apply now by sending a sample of your work.

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